LB 雷曼兄弟：China’s Re-emergence in the World Economy：Assessing the Implications

01.16 35页 英文 1.14M pdf

CONTENTS
Overview 2
Untangling the web of China’s trade 3
The composition of exports ..................................................................................... 3
Box 1: Facts about China’s top 100 exporters ........................................................ 5
Box 2: Features of foreign direct investment in China ............................................ 8
The destination of exports ....................................................................................... 9
Box 3: What drives China’s imports? .................................................................... 12
Implications of China’s global economic integration 14
Some theory .......................................................................................................... 14
Trade imbalances.................................................................................................. 15
The global saving glut and interest rate conundrum ............................................. 17
Competition, hollowing out and protectionism....................................................... 20
Diverging paths of commodity and consumer prices ............................................ 22
New challenges for monetary policy...................................................................... 26
The possible dark side of China’s re-emergence.................................................. 28
Conclusion 29
References ............................................................................................................ 30
Appendix 1:
Foreign-invested enterprises among China’s top 100 exporters in 2005.............. 32
Appendix 2:
Top ten export products for selected countries in 2005*....................................... 33